Enerplus Corp. agreed to acquire private Williston Basin operator Bruin E&P Partners LLC in a multimillion-dollar cash transaction the company said Jan. 25 will complement its existing position in the Bakken.
Based in Houston, Bruin E&P Partners holds 151,000 net acres in the Williston Basin all located within North Dakota. The acquisition includes 30,000 net acres contiguous with Enerplus’ tier 1 acreage position in the Bakken plus significant production and development inventory concentrated in the Fort Berthold area.
Ian C. Dundas, president and CEO of Enerplus, said the enhanced operating scale and asset synergies resulting from the Bruin acquisition are expected to drive continued efficiency gains and cost reductions supporting further cash flow improvements beyond the company’s current forecast.
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